9 years ago
As America’s economic supremacy fades, the primacy of the dollar looks unsustainable
If hegemony are good for anything, it is for conferring stability on the systems they dominate. For 70 years the dollar has been the superpower of the financial and monetary system. Despite talk of the yuan’s rise, the primacy of the greenback is unchallenged. As a means of payment, a store of value and a reserve asset, nothing can touch it. Yet the dollar’s rule has brittle foundations, and the system it underpins is unstable. Worse, the alternative reserve currencies are flawed.
Continue Reading
http://www.economist.com
Join the Discussion